Autonomous vehicle is a quite novice concept in automobiles which is still in its nascent stage of development. Autonomous vehicles are capable of reading and sensing the environment and operates without human input. These vehicles are packed with several features such as less driver stress and tedium, automatic parking, autopilot mode, and others. Furthermore, it provides independent mobility for non-drivers, including people with disabilities, adolescents, and others who for any reason are not capable of driving. Nowadays, several major automotive manufacturers are contributing towards the development of semi-autonomous and fully autonomous vehicles and AI plays vital part in this. At present, Tesla’s autopilot is the only partial-autonomous system on the market. Tesla’s autopilot system equipped with advanced AI has features such as keeping the vehicle within a lane while driving, auto changing the lanes whenever required, self-parking, and others. Meanwhile, other automotive giants including BMW, Volvo, Nissan, Mercedes, Audi, GM, Ford, and Toyota are introducing several autonomous features powered by AI such as departure warning and auto-parking. Thereby, growing demand for autonomous vehicle is expected to propel the growth of the automotive artificial intelligence market significantly in the next few years.

Based on Technology, the global automotive artificial intelligence market is segmented into machine learning, deep learning, computer vision, context awareness, and natural language processing. Deep learning dominated the global automotive artificial intelligence market in 2018, mainly due to increasing investment by many companies in the development of self-driving cars in which the deep learning technology is used for image processing, data analysis, motion detection, and voice search. It also registers the highest CAGR during the forecast period.

Data Mining Segment to Register Highest Growth, by Process

Based on Process, the global automotive artificial intelligence market is segmented into signal recognition, image recognition, and data mining. The data mining segment is expected to register the highest CAGR during the forecast period. This is mainly attributed to the large volumes of data generated and processed in a vehicle.

Asia-Pacific: The Fastest Growing Regional Market:

North America commanded the largest share of the global automotive artificial intelligence market in 2018, followed by Europe, Asia-Pacific, Middle East & Africa, and Latin America. This is due to the early adoption of artificial intelligence technology and presence of major automotive manufacturers. However, the Asia-Pacific is the fastest growing regional market due to the growing population and economies, rising living standards, rapid improvement in data storage capacity, high computing power, increasing investment by technology leader, and government initiatives to promote manufacturing activities in developing countries such as India, South Korea, and China.